Gallois outlines his report on boosting French economy

THE long awaited Gallois report has been handed in to the government by the former head of aerospace giant EADS.

Industrialist Louis Gallois was given the task of looking at ways to improve French business by Francois Hollande, but the president might not be too pleased with the reading.

The report puts forward 22 recommendations which Louis Gallois says are tough but necessary, as he looks to cut €30bn off payroll taxes and loosen labour laws.

The cost of such moves would be placed on reducing the state and possibly increased social charges for employees and an increase in TVA.

"The French people need to support this collective effort which could be a magnificent project for our country - winning back our industry," Louis Gallois told reporters as he left the prime minister's office, Reuters reports. "This will require real patriotism."

Although the report says change is necessary to help French industrial competitiveness, the government has already said it doesn't believe 'shock therapy' is necessary and that consultation and agreement is the way forward.

And for those keen to undertake a little light reading, the Gallois report can be read below:

Download Rapport de Louis Gallois sur la competitivite (.pdf)

Comments

[J Roger Clifford-Banks]

If Gallois is right, then what were they doing by making a bid for Bae Systems? I think we all know where the redundancies would have been!